Tag: simpson

The Captains of Catfood and their Phoney Baloney Debt Crisis

The Captains of Catfood are getting ready for another big push to steal your Social Security.  Simpson and Bowles are getting into high gear again:

Fifty-eight million Americans saw President Barack Obama and Mitt Romney tangle over former Sen. Alan Simpson (R-Wyo.) and former White House Chief of Staff Erskine Bowles’s deficit reduction plan. “Simpson-Bowles” was the most popular Google search during the 90-minute debate.

But behind the scenes, the two deficit hawks are enjoying more than just a search engine moment. The pair is heading to Virginia’s Mount Vernon next week to meet with the new bipartisan Senate “Gang of Eight” in an effort to hash out a major deficit and tax package. …

Inside the Capitol, there’s an increasing recognition that any major deficit deal will at least need the imprimatur of Simpson and Bowles in order to win over votes from both sides of the aisle.

Along with former Sen. Judd Gregg (R-N.H.), they’ve met with Speaker John Boehner (R-Ohio), upwards of half the Senate, major columnists and business leaders seeking support for a massive deficit compromise inspired by the original Simpson-Bowles framework.

Not content to merely lobby the heck out of congressmen, Pete Peterson’s favorite guys, Simpson and Bowles have raised $25 million to fund a “Campaign to Fix the Debt” and they’d like you to help the billionaires by volunteering to bird dog your congressmen.  Simpson and Bowles’ Wall Street Austerians Amen Corner has been abuzz with activity, too.  They’ve just issued marching orders to their government lackeys demanding that the president and congress fix the deficit problem.

Still seeking to push through his neoliberal austerity plan, President Obama says that he is eager to rekindle the negotiations to create a 4 trillion dollar grand bargain based upon Bowles and Simpson’s plan:

President Barack Obama laid out an astoundingly ambitious second-term agenda in an interview published Wednesday, vowing to forge a “grand bargain” with Republicans to reduce the national debt and achieve comprehensive immigration reform-all in 2013. …

“I am absolutely confident that we can get what is the equivalent of the grand bargain that essentially I’ve been offering to the Republicans for a very long time, which is $2.50 worth of cuts for every dollar in spending, and work to reduce the costs of our health care programs,” Obama said. (The White House quickly clarified that he meant $2.50 of spending cuts for every dollar in new tax revenue).

We can easily meet-‘easily’ is the wrong word-we can credibly meet the target that the Bowles-Simpson Commission established of $4 trillion in deficit reduction, and even more in the out-years, and we can stabilize our deficit-to-GDP ratio in a way that is really going to be a good foundation for long-term growth,” Obama said. “Now, once we get that done, that takes a huge piece of business off the table.”